On H4, the quotes are in the oversold area. The RSI has bounced off the support line. An upwards breakaway of 0/8 (0.9277) is expected, followed by growth to the resistance level of 2/8 (0.9521). The scenario can be cancelled by a downward breakaway of the support level of -1/8 (0.9155). In this case, the quotes may go on falling and reach -2/8 (0.9033).
On M15, growth can be supported by a breakaway of the upper border of VoltyChannel.
XAUUSD, “Gold vs US Dollar”
On H4, gold quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In the end, a test of 5/8 (1781.25) is expected, followed by a bounce off it and growth to the resistance level of 6/8 (1812.50). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1781.25). In this case, gold quotes may drop to 4/8 (1750.00).
On M15, the upper line of VoltyChannel is too far away from the current price, hence, growth will be supported by a bounce off 5/8 (1781.25) on H4.
